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Waruna Group takes TCC aframax

The Waruna Group from Indonesia has been revealed by Splash as the buyer of the CSK Valiant aframax from Hong Kong’s Tai Chong Cheang (TCC). While broking reports last week cited the tanker as sold, no one was able to name the buyer.

Waruna has paid $17.9m for Imabari-built, 107,000 dwt ship, around $2.4m more than online pricing platform VesselsValue.com has the 13-year-old ship listed.

Waruna has a 33-strong fleet, of which 28 are tankers.

TCC chairman Kenneth Koo told Splash that his company is focused on fleet renewal at the moment.

“First and foremost is building to requirement from our long term customers and secondly to balance our tankers and bulkers fleet which, at this point, is still skewed towards the capes,” Koo said.

TCC recently took delivery of the first of two aframax tankers from Namura Shipyard in Japan. Both vessels are committed on long term charter to BP.

On the pipeline are two more aframax tankers, one from Namura and one from Sasebo.

“This total of four aframaxes also enables us to replace our existing and sold aframaxes in addition to the long term charter aforementioned,” Koo said.

TCC also has a total of three newcastlemaxes on order. Two will be built in Imabari and are committed on long term charter to NS United and one to be built also in Namura and committed on long term charter to NYK. It also has a dunkirkmax to be built in Imabari in a joint venture with K Line.

TCC disposed of two capes recently for scrapping and will be disposing of an additional one this year most probably for scrapping as well.

“All in all, we expect a fleet of around 15-16 vessels by 2020 including our four aframaxes and one existing VLCC. The rest of the fleet will consist of two panamax bulk carriers delivered to us in 2014 and 2015 respectively and seven capes including the aforementioned newbuildings,” Koo concluded.

With additional reporting by Sam Chambers

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Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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